Gumpert Files for Insolvency Due to Poor Sales in China

German sports car maker GumpertGumpertGermany, 2005 > present3 models
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has filed for bankruptcy in Germany and is already looking for investors to purchase the company. It blames the bankruptcy on lower than expected sales in China, which it saw as a major future market. 

The court in Gera, Germany, has appointed lawyer Görge Schied as provisional insolvency administrator. Schied has already toured the factory and interviewed all 30 employees. According to Gumpert, Schied predicts the chances of Gumpert being purchased highly likely. 

"The super sports car 'Apollo,'Gumpert Apollo Gen.1Germany, 2005 > present8 versions
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developed by Gumpert is technically mature and holds superior performance figures compared to all other cars. Now it's essential to reactivate the European market, which has been neglected over the past years," said Schied. 

Schied will begin interviewing possible investors this week. 

While going through bankruptcy, Gumpert will continue to produce cars and is delivering a car later this week.

Former Audi manager Roland Gumpert founded Gumpert in 2004.